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How do I determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO for the following problem?
How do I determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO for the following problem? Thanks so much!
Problem 6-09A al-a2, b (Part Level Submission) Cullumber Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Date Units Purchases Unit Cost $130 Sales Units $144 July 1 July 6 July 11 July 14 July 21 July 27 $155 (al) Your answer is correct. Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. Average cost for each unit July 1 1 130 130 July 6 July 11 140.50 July 14 140.50 July 21 150.65 July 27 150.65 (a2) Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving average cost, and (3) LIFO. e.g. 12.52 and final answer to o decimal places, e.g. 1,250.) FIFO MOVING-AVERAGE LIFO The ending inventory under a perpetual inventory systemt Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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